Telecom sector receives $ 21 mln FDI in first quarter

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Telecom sector receives $ 21 mln FDI in first quarter

ISLAMABAD, Oct 23 (APP): The telecom sector has received
US $ 21 million as Foreign Direct Investment (FDI) in first quarter
of current fiscal year as against US $ 6.9 million in corresponding
period of last year.
Information Technology sector fetched US $ 3.3 million FDI in
July-September 2016 as compared to 0.2 million in corresponding
period of last fiscal year.
Statistics of State Bank of Pakistan (SBP) on Sunday showed
overall communications sector comprising telecommunication,
Information Technology and postal & courier services) registered US
$ 24.2 million net FDI with US $ 40.9 million inflow and US $ 16.7
million outflow.
Telecommunication sector registered US $ 37.6 million inflow,
US $ 16.6 million outflow and US $ 21 million net FDI during
period under review.
Net FDI in software development remained at US $ 1.5 million
during July-September.